Tier 1 (Investor) is the category under the Points Based System for high net worth individuals making a substantial financial investment to settle in the UK.

This visa leads to Indefinite Leave to Remain (Settlement).

For applications submitted before 06 November 2014, applicants must have access and complete control of £1million cash in the UK. Applicants must invest at least £750K in qualified investment vehicles in the UK within 3 months after landing in the UK with such visa or obtaining further leaver to remain in the UK (whichever is sooner).

For applications submitted on and after 06 November 2014, applicants must have access and complete control of £2million cash in the UK. Applicants must invest at least £2 million in qualified investment vehicles in the UK within 3 months after landing in the UK with such visa or obtaining further leaver to remain in the UK (whichever is sooner).

Initial application

From 06 Nov 2014 applicants are required to score at least 75 points in total to successfully apply for this visa and can claim points in the following way:

By providing documentary evidence of having at least £2 million of one’s own money held in a regulated financial institution and disposable in the UK;

From 06 Apr 2015 applicants must have a UK regulated investment bank account before making their initial application – Multrees Law is able to assist in opening such an account.

The applicant must claim 75 points using one of the above-mentioned options to qualify for this visa. There are no English language or maintenance requirements for Investors.

The minimum investment required is £2 million, which is enough for the initial application, though according to the new rules the qualifying period for settlement depends on the sums invested, so there are 3 categories:

£2 million and more

£5 million and more

£10 million and more

At least £2 million must be invested in the UK by way of UK Government bonds, share capital in active and trading UK registered companies within 3 months of the specified date. If you were granted Entry Clearance as a Tier 1 (Investor) then your specified date is your date of entry to the UK. If you were granted Leave to Remain as a Tier 1 (Investor) then your specified date is the date your leave to remain is granted.

Money should be disposable in the UK which means that it is held in a UK based financial institution or, if held outside the UK, it must be freely transferable to the UK and convertible to sterling. It can include money belonging to the applicant's spouse, civil partner or unmarried or same-sex partner, provided that specified documents are provided.

From 06 Apr 2015 applicants will no longer need to invest additional capital if they sell part of their investments at a loss, but they will be required to maintain all their capital within their investment portfolios. Buying and selling investments will continue to be permitted, providing the investor does not withdraw any capital.

Applications will be refused if the British Embassy/Home Office has reasonable grounds that:

The applicant is not in control of the funds;

The funds were obtained unlawfully;

The character, conduct or associations of a party providing the funds mean that approving the application is not conducive to public good.

Tier 1 (Investor) - granted initial entry clearance, leave to remain under the rules in place on or after 06 Nov 2014.

Requirements for an extension application -Tier 1 (Investor) – granted initial entry clearance, leave to remain under the rules in place prior to 06 Nov 2014

Migrants who have invested the minimum of £1m will require a visa extension for 2 years to enable them to complete five years residence in the UK and apply for ILR.

The applicant has to score 75 points under this section which can be claimed-

- By providing documentary evidence that the applicant has money of his own under his control in the UK amounting to not less than £1 million (Max. 30 Points)

Or

- By providing documentary evidence that the applicant owns personal assets having a value exceeding £2 million and the applicant has money under his control held in a regulated financial institution and disposable in the UK amounting to no less than £1 million that has been loaned to him by a financial institution regulated by the FSA (Max. 30 Points)

- By providing documentary evidence that the applicant has invested not less than £750,000 of his capital in the UK by way of UK Government bonds, share capital or loan capital in active and trading UK registered companies other than those principally engaged in property investment (Max. 30 points)

- By providing documentary evidence that the investment has been made within 3 months of obtaining entry clearance/leave to enter/leave to remain and that the investment has been maintained for the whole of the remaining period of that leave (Max. 15 points)

Or

By providing evidence that the applicant has or was last granted entry clearance, leave to enter or leave to remain as an Investor (Max. 15 points)

The applicant can only claim 75 points if he can provide the relevant documentary evidence and claim points in the way mentioned above.

Requirements for an extension application - Tier 1 (Investor) - granted initial entry clearance, leave to remain under the rules in place on or after 6 Nov 2014.

Migrants who have invested the minimum of £2m will require a visa extension for 2 years to enable them to complete five years residence in the UK and apply for ILR.

The applicant has to score 75 points under this section which can be claimed-

- By providing documentary evidence to show that the applicant has invested not less than £2 million in the UK by way of UK Government bonds, share capital or loan capital in active and trading UK registered companies subject. Investment excludes investment by the applicant by the way of companies mainly engaged in property investment, property management or property development.

- By providing documentary evidence to show that the investment was made within 3 months of the applicant’s specified date.

The applicant can only claim 75 points if he can provide the relevant documentary evidence and claim points in the way mentioned above.

From 06 Apr 2015 applicants will no longer need to invest additional capital if they sell part of their investments at a loss, but they will be required to maintain all their capital within their investment portfolios. Buying and selling investments will continue to be permitted, providing the investor does not withdraw any capital.

INDEFINITE LEAVE TO REMAIN (SETTLEMENT)

First time applicants will be given 3 years and 4 months’ leave to enter or three years’ leave to remain if they switch from another immigration category.

Qualifying period for settlement (ILR) is:

5 years if £1m invested (only if the application was made prior to 06 Nov 2014); or

5 years if £2m invested; or

3 years from the point when £5m is invested; or

2 years from the point when £10m is invested.

Therefore those who invest £1m if their initial application was made prior to 06 Nov 2014, £2m for all other applicants, will require a visa extension for 2 years to enable them to complete five years’ residence in the UK and apply for ILR.

The requirements relating to naturalisation applications have not been affected and even if they obtain ILR in two years by investing £10 million in the UK economy they would still be required to wait for another 3 years and comply with the residence requirements in order to apply for naturalisation.